Feb 28, 2013 6:00am PST
papacy and so the logic was simple, they wanted continuity. so cardinal joseph ratzinger seemed an obvious choice. this time there is no such obvious front runner and no simple, single, overriding issue that's driving the reflection, which is why a lot of us believe this conclave may be a little bit more complex and it may take a little bit longer for the cardinals to reach consensus. >> all right. all right, john, let's come back here to new york for a second. melinda, let me ask you, when you're looking at this from the outside, other than the timing which you know i'm completely obsessed with, that's mainly because i have to figure out when i have to get to rome, but when we're looking at what might be different this time, that's the excitement, right? what are you looking at from the outside? what do you think the possibilities here are? and are we being too excited? >> in terms of the candidates or in terms of what we're going to see going forward? >> because pope benedict has created precedent here by saying i'm resigning, this is the best thing for the church, will that i
Feb 28, 2013 8:00am PST
've understood that pope benedict the xvi, joseph ratzinger, soon to be pope emeritus is incredibly sensitive and kurt tee just an courteous. people have come to appreciate and feel for him maybe more than they had during the years of his pontificate, jon. jon: as the helicopter prepares to liftoff let's listen to the peeling of the church bells as this pope prepares to say goodbye. [bells ringing ] jon: what a view, when the last pope resigned 600 years ago he didn't depart by helicopter as bill herm pointed out. we have air to air shots covering every move of the current pope east spends his last couple of hours in office heading to a temporary retirement in castle gandolfo a few miles from rome and eventually back to the vatican at well a convent apartment that is being renovated for him now. jenna: the ride itself, the helicopter trip between the vatican and castle gandolfo is supposed to take 15 minutes or so. what a trip it is, by the images we have of the land of rome, quite moving images whether you're watching it from this point of view or in side the helicopter as well. we have a se
Feb 28, 2013 9:00am EST
, after eight years, formal cardinal joseph rat ratzinger retires as pop. as we continue to see what the conclave will do as we search for his successor as the entire world watches what is happening with him. >>> got some breaking news out of the new york fed. a hard right turn here to steve liesman. >> why does this always happen to me, carl? >> hard to follow the pope, my man. >> exactly. let me do my best. the new york fed reporting that total consumer indebtedness rising a scant 3% to 11.3 trillion. housing debt was flat. it was a small gain but the first gain we've seen since the first quarter of 2011, that was thought to be a bit of a statistical anomaly. so maybe this is the first real gain. let me show you what rose. auto loans up 15 billion. credit cards up 5 billion. the perennial student loans up 10 billion and they have been rising quite a bit. delinquencies are quite high. all delinquencies declined except for student loans and they were up almost 12% and probably because of a whole bunch of different reasons, carl, they could be twice as high as that. carl, back to you.